Things to consider when buying your dream home.
Congratulations! You’re thinking about buying your first home. To help you make the right decision, below are some key issues to consider.
Work out how much you can afford to spend before you even look, and only look at homes within your price range.
2. Aussie can help
Aussie represents up to 19 lenders, including the major banks – providing borrowers with a wide, credible snapshot of the market.
3. Find the home that’s right for you
Physically inspecting properties is the best way to know if a home is the right for you. It pays to be flexible as some locations or homes you view may offer benefits you hadn’t considered. Meet with an Aussie broker and you’ll get access to a FREE property report from RP Data.
4. Do your research
Ensure the land, home or apartment you buy is not over-priced. Check the prices paid for other properties in the area where you are looking. An Aussie broker can also provide you with a FREE property or suburb report worth $89.95 from RP Data.
5. Future rate rise
If you’re worried about interest rates increasing in the near future you can split your loan between variable and fixed rates - which can often be done at no cost with a range of home loan providers like Aussie.
Choose to make fortnightly repayments, rather than monthly. Paying fortnightly may save you years and thousands of dollars in interest over the life of the loan.
7. Fees and changes
Choose a loan with no on-going fees and charges or select a loan with an annual fee offering access to offset accounts, credit cards and discounts on other banking products. Your Aussie broker will be able to guide you through this decision making process, ensuring your selected home loan provides the futures most important to you.
8. Don’t overcommit
Talk to your Aussie broker to make absolutely sure your home loan repayments do not overly impact on your lifestyle. You do not want to eat baked beans for the next 25 years!